Petroceltic Gets Boost From Approval of Algerian Gas Deal

摘要

Shares in UK-listed exploration and production firm Petroceltic International gained some 3% on Monday after the company announced long-awaited approval from Algeria’s government for its farm-down to Italian national power utility Enel of a stake in its Ain Tsila gas project. The approval gives Enel an 18.375% interest in the Ain Tsila gas project onshore Algeria — set to produce some 400 million cubic feet per day at its peak following first gas in 2017 (IOD Dec.16’11).